A daily dose of market updates to guide your investment decisions.
July 13, 2026
Chart of the Day
Japan’s producer prices rose 7.1% year-on-year in June, the fastest increase since early 2023, indicating stronger inflationary pressures that could lead to further interest rate hikes by the Bank of Japan. The rise was mainly driven by higher costs for energy, including oil, gasoline, and electricity. Source: Bloomberg
Financial market updates
The USD/PHP exchange rate opened 3.5 centavos lower at 61.57 last Friday, in line with the dollar's decline overnight.
The local pair trended lower through most of the morning due to fixing-related dollar supply from banks, exporter and remittance inflows, and broader dollar weakness, reaching an intraday low of 61.48.
However, corporate demand later supported the pair, allowing it to recover, with importer demand largely offset by strong remittance inflows ahead of the weekend.
The USD/PHP pair ultimately closed at 61.515, or 9 centavos lower day-on-day.
The current support levels of USD/PHP remain at 61.15/40, while the resistance levels are 61.65/62.00.
Local bonds opened Friday on firmer footing amid generally stable global markets. There was selective buying into weakness following the sharp sell-off over the past few sessions driven by the resumption of hostilities in the Middle East.
Activity gravitated toward the belly of the curve, with FXTN 7-70 (4Y), bringing yields lower by 11 basis points (bps) to 6.905%. Excess demand spilled over to the similar tenor RTB 5-19, closing 18 bps lower at 6.900%.
Demand for front end through belly bonds pulled yields 6-18bps lower along the curve, while the back end remained largely muted. FXTN 10-71 (7Y) traded at 7.125% ahead of supply at the BTr's reissuance on Tuesday.
Market focus turns to the upcoming FXTN 10-71 (7Y) auction, with our indicative range initially set at 7.075% - 7.200%. Broad sentiment remains closely tied to geopolitical developments and key inflation markers such as the US CPI due Tuesday night.
The Philippine Stock Exchange index (PSEi) ended 62.83 points higher at 6,286.70 last Friday, as bargain hunting and improving risk appetite carried over from the morning session and spread across all the sectors.
Advancers comfortably outnumbered decliners, 102 to 82, on healthier value turnover of PHP 6.78 billion.
Foreign investors continued to provide support, posting net inflows of PHP 788.40 million while accounting for 50% of total trading activity.
The advance was broader than in recent days, with Ayala Land Inc. (+5.96%), Century Pacific Food Inc. (+4.50%), and Bank of the Philippine Islands (+1.98%) as the day’s most meaningful contributors.
Meanwhile, DigiPlus Interactive Corp. (-4.05%), Converge Information & Communications Technology Solutions Inc. (-1.71%), and RL Commercial REIT Inc. (-1.53%) declined due to profit-taking.
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